Petrovietnam Gas JSC (PV Gas) and The AES Corporation (AES) have joined forces to collaborate on a new liquefied natural gas (LNG) terminal to be located in Binh Thuan Province, South-Central Vietnam.

Following the exchange of a signed joint venture agreement, construction is set to begin on the 450 TBtu (trillion British thermal units)-capacity terminal, which will cost around $1.4bn and is set to begin commercial operations in 2026.

Signing of the agreement

Signing of the agreement

Source: PV Gas

Calling the agreement an ‘important milestone’ for the development of the Son My LNG terminal, David Stone, President, AES Vietnam, said, “The terminal will enable our customers in Vietnam to continue accelerating economic growth by using cleaner, more reliable and more affordable fuel to transform the energy sector.”